31–40 of 97 posts
What is the difference between computing crypto and something like Prime95 to discover new prime numbers?
The amount of electricity these miners are pulling is insane, and is beginning to affect their neighbors. Its about time we stopped putting up with it.
What is the difference between computing crypto and something like Prime95 to discover new prime numbers?
As someone who's neutral/vaguely positive on crypto (which is to say, it's gonna happen regardless of what any of us think of it ) this is a great idea, simple and to the point. Mining crypto is (now DEFINITELY) wasteful; make it more expensive. I'd go higher, even.
ideally the federal government would not have an opinion on what citizens use electricity for, only that the externalities of power generation are priced in.
at a high level, crypto mining is just arbitraging the price of electricity. if the externalities are priced into generation, this is a non issue. if they're not, a tax should be applied that doesn't discriminate by use case.
All this does is move HQ. There is a reason most US cargo ships sail under a foreign flag like liberia
Wow, taxed based on how you use your computer huh? Doesn't sounds very American to me. What's next, taxed for fuzz testing? Taxed for using inefficient programming languages? FWIW I do not support the crypto space either, but if they want to use a computer to run an infinite loop for the end of time that's their business. Perhaps spending more effort on improving the power grid and using more renewable resources woul…
I don't see anything in this proposal that would prohibit running an infinite loop for the end of time.
Is there even that much crypto mining happening in the US anymore?
US mines more bitcoin than any other country. The big thing now is using natural gas from oil wells that are not connected to gas pipelines (it's not economical to connect them), so instead of flaring the gas off into the sky, they fuel a generator to power a bitcoin farm using essentially free electricity.
What is the difference between computing crypto and something like Prime95 to discover new prime numbers?
Earlier quoted context omitted.
I don't understand why this would be difficult to enforce? It's a tax on companies that are doing crypto mining, not on an individual running mining on their personal machine.
So would they tax all the electricity that company uses or just the electricity used for mining? The article isn’t very clear on the specifics.